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The argument can hold if the money isn't just sitting in a bank, generating extremely minor amounts of labor, but rather being invested.
If a wealthy person injects his money into the circulation of the market, then absolutely yes, it's creating jobs.

Likewise, one could argue that "the bank is doing that for me with my money", but I would have to say, in that case it's the BANK that's circulating investments and generating jobs, not the account holder. He is merely indirectly involved, and should not take the full credit.

Yes, but it's not the bank that's produced the wealth that's being invested. So it's not like the holders deserve no credit either.

Quote:

Originally Posted by Malkuth

Money sitting in banks are used by the bankers in very risky investments by the same people that generated the current crisis in the first place, and now degrade the outlook of states because they support their failures with tax-payers' money. In other words a tax-payer pays more taxes to cover up his money lost by the bankers

Yes, damn them for buying Greek treasury bonds and investing in Greek banks. What were they thinking?

Yes, damn them for buying Greek treasury bonds and investing in Greek banks. What were they thinking?

Or spanish, irish, icelandic, portugeuse, italian, french, scottish, american, even german... that the rating agencies gave high ratings with good prospects only days before each country had to bail them out by bloating their own sovereign debt leading to the current situation.

Or spanish, irish, icelandic, portugeuse, italian, french, scottish, american, even german... that the rating agencies gave high ratings with good prospects only days before each country had to bail them out by bloating their own sovereign debt leading to the current situation.

The reminds me of these anecdot (probably false, yet):

When NASA was preparing for the Apollo project, they did some astronaut training on a Navajo Indian reservation. One day, a Navajo elder and his son were herding sheep and came across the space crew. The old man, who spoke only Navajo, asked a question which his son translated. "What are these guys in the big suits doing?"

A member of the crew said they were practicing for their trip to the moon. The old man got all excited and asked if he could send a message to the moon with the astronauts. Recognizing a promotional opportunity for the spin-doctors, the NASA folks found a tape recorder.

After the old man recorded his message, they asked the son to translate it. He refused. So the NASA reps brought the tape to the reservation where the rest of the tribe listened and laughed but refused to translate the elder's message to the moon.

Finally, the NASA crew called in an official government translator. He reported that the moon message said, "Watch out for these guys; they have come to steal your land." <--- The trouble is that for some reason people believe the white men would not steal from a white men

Syrian military says it has shot down Turkish fighter jet "over its territorial waters", risking a new crisis between Middle Eastern neighbours already at bitter odds over a 16-month-old revolt against Syrian President Bashar al-Assad.

"Our air defences confronted a target that penetrated our air space over our territorial waters pre-afternoon on Friday and shot it down. It turned out to be a Turkish military plane," a statement by the military circulated on state media said.

Turkish Prime Minister Recep Tayyip Erdogan's office in a statement confirmed the incident in which two pilots went missing.

Wow... an F-4 Phantom. I haven't seen those in the sky in decades. The US National Guard used to use them in the 80s and they'd regularly fly the NASA-JSC airspace. Sounded like a monster version of a tweaked-hot Camaro rumbling down the street - very distinctive low pitch compared to, say, the shriek of an F-16.

Wow... an F-4 Phantom. I haven't seen those in the sky in decades. The US National Guard used to use them in the 80s and they'd regularly fly the NASA-JSC airspace. Sounded like a monster version of a tweaked-hot Camaro rumbling down the street - very distinctive low pitch compared to, say, the shriek of an F-16.

There's actually a couple that have been restored and flying again at vintage aircraft airshows. I didn't think any were still being used by existing military.

There's actually a couple that have been restored and flying again at vintage aircraft airshows. I didn't think any were still being used by existing military.

The F-4s that Turkey uses are extensively modified version dubbed the "F-4E/2020 Terminator" that is radically different from the originals.
Its got many of the same avionic systems that Israel installs in its F-16s (the Modification was done by Israel).
The air frame may be the same, but its a completely different bird under the hood.

The F-4s that Turkey uses are extensively modified version dubbed the "F-4E/2020 Terminator" that is radically different from the originals.
Its got many of the same avionic systems that Israel installs in its F-16s (the Modification was done by Israel).
The air frame may be the same, but its a completely different bird under the hood.

Ah.. sounds like the "path of evolution" somewhat like the ones B-52s have undergone (avionics, ECM, sensors, engine power, payload, etc). The appearance is the same --- but if you think its prehistoric its going to kick your ass